Friday, 30 January 2015

Basic Bookkeeping Interview Questions and Answers

21. How extensive have your past financial reports been?
    If you have a staff of 100 people with six departments, then you will want a bookkeeper that is experienced in juggling reports for that size company. Find out from the candidate how familiar she is with creating various kinds of management and executive reports, and see if her experience matches the kind of reporting data you will need on a regular basis.

22. What are your educational goals?
    A bookkeeper that has no desire to advance his education will not be able to keep up with the annual changes to tax codes and the advances in accounting software. Hire a proactive bookkeeper that understands the value of ongoing education and knows how to keep current on changes.

23. What is the difference between liability and asset?
Liability and asset are two completely different things but without them it is impossible to successfully run a company. Assets are generally things that add value to the reputation to the company. There can be fixed assets like land, building, and current assets like stock, cash, debtors, inventory and bill receivable. Intangible assets can also be included like goodwill and patients. Liability is something that the company owes to other people, and it includes bill payable, bank loans and creditors.

24. Out of the other candidates that we have interviewed why should we choose you among the rest?
 This is the most common question that is asked almost in every interview. While answering this question you need to think and answer it briefly, try to give a description of your skills and achievements to the employers. Be very positive and try to explain them how your back ground qualification really matches with the bookkeeping job description. You can also state your extensive experience in this field.

25. How can you help in the growth and progress of the company?
 This question you need to answer to the point. Keeping in mind your job description, tell the employer how you can prove to be a benefit for their company. If you have had soft ware education and training then you can also include this in your answer.

26. Explain the difference between a profit and loss statement and the balance sheet?
A profit and loss statement is prepared from time to time for a specific period maybe a month or a week; it is usually prepared to find out the actual profit and loss of the company. A balance sheet is always prepared at the end of the financial year and it is made to find out the true position of the company’s assets and liabilities.
More Questions & Answers :-
Part1  Part2  Part3

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